Saturday, 14 April 2018

Consumer goods giant Unilever faces shareholder backlash over top executives' bonuses

The consumer goods giant Unilever is facing an investor backlash at its annual meeting next month over millions of pounds in bonuses handed to its top two executives.
Sky News has learnt that the advisory service run by the Investment Association (IA)‎, the fund managers' body, has issued a "red-top" warning in relation to Unilever's remuneration report.
The alert threatens to embarrass the owner of Dove shampoo and Marmite at a time when relations with investors are being strained by the company's decision to relocate its headquarters to the Netherlands.

‎City sources said on Friday that the IA "red-top" related to the decision by Unilever's remuneration committee to award annual bonuses worth €2.3m to Paul Polman, its chief executive, and €1.1m to Graeme Pitkethly, the chief financial officer.

The bonuses were the maximum possible under the company's existing remuneration ‎policy, which is being overhauled this year.

The IVIS service is understood to have been angered by that decision because Unilever's underlying sales growth for last year fell short of the target figure by a small margin.

SKY      News.

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